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31 Mellen Street

Victorian Two-Family Home In Boston's Dorchester Sold For $1.1M
SOLDMultiFamily

Victorian Two-Family Home In Boston's Dorchester Sold For $1.1M

31 Mellen Street

$1,100,000

$330/SF

Building Size

3,324 SF

Asset Type

MultiFamily

Closing

Jun 25, 2024

AI

A historic Philadelphia-style Victorian two-family home on Ashmont Hill in Boston's Dorchester neighborhood sold for $1.1 million. Built in 1900 with original woodwork and stained glass, the property features a first-floor unit with three bedrooms and a second-floor unit offering four bedrooms, two balconies, and extensive living space. The property is located at 31 Mellen Street in Boston, MA with a total square footage of 3,324. The sale price was $1,100,000, resulting in a price per unit of $550,000 and a price per square foot of $331.

Summary of transation details:

  • Property Type: MultiFamily
  • Transaction Amount: $1,100,000
  • Address: 31 Mellen Street
  • Market: Boston, MA
  • Units: 2
  • Square Footage: 3,324
  • Price per Unit: $550,000
  • Price per Square Foot: $331

The buyer's representative for this transaction was Anh Nguyen of Elevated Realty, while the seller's representative was O'Connor & Highland from Keller Williams Boston-Metro.

Players

Anh Nguyen

Elevated Realty

Broker

$1.1M

vol

1 deal

Broker

Dorchester Center MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

14.42%

Cash-on-Cash

-4.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93